Making Tax Digital (MTD)

Making Tax Digital (MTD)

Good news!

No more worry or additional work required for Making Tax Digital.

eFileReady's intelligent server will allow you to send your eReturns to HMRC using a simple CSV or XML file in exactly the same way as before. Whether you are sending a VAT or other eReturn under MTD you can continue to send your return through our intelligent server correctly with ease.

For those new to our service, you can learn more on how simple and cost-effective our system is below. Through eFileReady's intelligent server we can guarantee that your eReturn under MTD will be 100% successful, saving you time and money.

What will be changing?
There are indeed big changes when HMRC introduces new technologies with MTD. The good news is we are able to confine the new changes within our server, saving all our users from spending time and money in modifying their own system. We can guarantee all our users that MTD will bring them absolutely no pain when making VAT or any other eReturns HMRC may introduce.

Under MTD eFileReady will communicate with HMRC using OAuth2, Rest-based API and JSON. Since we are data interchange specialists, as well as a leading cloud solution provider, these new technologies HMRC are rolling out are already known and implemented by us. There will no doubt be variations and deviations in these technologies but it will take us no time to iron out the differences. From our professional point of view, this change made by HMRC is the right move as HMRC must use the much more efficient latest technologies to cope with volume and improve its speed and performance.

The challenge here is how to simplify these complicated new technologies to allow a user like you to continue with your business with ease. We can say with confidence that we are pretty good in this type of situation; we have done this many times before and MTD is just the latest change we will be taking care of for you.

HMRC is also rightly tightening their security procedures for the New API platform. Previously you just needed your User ID and Password to submit data, but now you need a 2-step verification to receive and submit data through eFileReady. This additional security credential setting is a one-time setup process which can be handled very easily. What it means is during the authentication process HMRC will send a code to your mobile phone or email on the fly for you to further enter into the log on credentials to complete the log on process. These days we all carry a mobile phone/device and this extra requirement should worry no one.

www.eFileReady.com has developed an innovative unique auto data converter which will convert your VAT eReturn data file into HMRC's required format and further efile to HMRC automatically. We have below listed how eFileReady supports MTD and how you can use it.

Step 1:Extract Data from your Accounting Software
The initial step is to extract the VAT data from your accounting software package. Our system will accept the data in either CSV or XML file formats. The XML file used should comply with HMRC's XML schema. You can extract the data for an individual client or for a batch of clients (i.e. VAT data of multiple clients in the same file). eFileReady will provide you with a template and a comprehensive instruction manual to guide you on the data requirements for extracting your MTD VAT data files.

Step 2:Sign In to eFileReady
To start using our MTD services you'll need to sign in to our application. Visit www.efileready.com to sign in. If you do not have an account you may sign up and create an account.(please see IMPORTANT NOTE below)

Step 3:Upload Data File into eFileReady
After signing in successfully, you can upload the VAT data file extracted from your accounting system software. Uploading a CSV or XML file into the eFileReady system is just as easy as sending an email with an attached file.

Step 4:Review the Data to E-file
It is important to review the data you have uploaded before e-filing it to HMRC. If any of your data fails to comply with the HMRC standards we will instantly advise you about what exactly the errors are in the file. You can further rectify and upload the data file once again. If required our support team will always be ready to assist you with the rectification.

Step 5:E-File Data to HMRC
You simply need to click on the 'E-file' button to submit the data to HMRC. The server will further conduct final checks on the uploaded data file and then e-file it for you.
If you are a first time user of our MTD services, it is mandatory to do the one time 'MTD VAT Authorisation Setup in eFileReady. You'll be allowed to e-file your MTD data only after completion of this process. Please refer to the IMPORTANT NOTE given below to carry out the MTD VAT authorisation setup.
24 x 7 support is provided to help to unravel any problems you may have.

Step 6:Download Success Certificate and Reports
Under MTD, you'll also need to store all your e-filed data and reports digitally. www.efileready.com will issue a success certificate which includes HMRC's provided time stamp and HMRC marks. We provide various e-filed data reports and search functions for you to view and print any MTD data you wish. In addition our system will also store your data for up to 3 years.

IMPORTANT NOTE: MTD VAT Authorisation Setup in eFileReady

As per HMRC guidelines, it is mandatory to create a new online HMRC services account exclusively for MTD.Visit www.gov.uk/guidance/get-an-hmrc-agent-services-account and register for a new HMRC online agent account. You'll then need to add your clients to this account to e-file your VAT returns to HMRC on their behalf. Please follow the HMRC guidance to do this.

Further, after choosing "MTD VAT Authorisation Setup" in eFileReady , you will be redirected to HMRC's website to complete the MTD VAT Authorisation. You will require your new Government Gateway credentials, and your mobile or landline phone to complete the 2-Step Verification(2SV) process on the HMRC website. After successfully finishing the steps on HMRC's website, you will be then be taken back to eFileReady to continue with your E-filing related tasks.